Private sector lender City Union Bank is planning to raise Rs 258 crore through sale of shares to investors on rights basis as well as issue of equity to its employees. The bank said it would issue a total of 12.89 crore equity shares including 10.24 crore shares under the rights basis and the remaining 2.65 crore shares would be reserved for employees, according to letter of offer filed by the bank with market regulator Sebi showed.
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